Austin and Oakland: A Tale of 2 Cities
Sort of, we can “celebrate” a birthday. 5 years ago, the Great Recession began.
And that takes us to Texas where they can celebrate. Among the large metropolitan areas in the US, Austin (#1), Houston (#2), San Antonio (#4) and Dallas (#7) are in the top 10 for employment numbers that have surpassed their 2007 totals.
Why Texas? The Economist suggests it is because of mortgage regulations that precluded a severe housing crisis, population increases, and of course, energy.
Based on BLS (Bureau of Labor Statistics) data, this Economist chart illustrates the employment divide between Texas and California.